DLL, Mahindra and Mahindra Financial Services extend their longstanding US joint venture

DLL, a global financial solutions provider and wholly-owned subsidiary of Rabobank Group, announced on March 10, 2022 an agreement with Mahindra & Mahindra Financial Services (MMFSL) to expand their long-standing US joint venture. The joint venture, as Mahindra Finance USA, provides retail and wholesale financing in the United States for Mahindra Ag North America (MAgNA), which assembles and distributes tractors, side-by-sides and implements in North America . DLL and MMFSL bring over 60 years of combined experience in financial services and equipment lending.

Along with the joint venture agreement, Mahindra Finance USA and MAgNA have agreed to an extension of their program and support agreement for retail and wholesale financing in the United States.

Mahindra Finance USA celebrates its 10th year of joint venture partnership.

The anniversary marks the first end customer retail financing contract signed by the joint venture in 2011, as well as managing wholesale financing for MAgNA. Since then, Mahindra Finance USA has experienced significant growth, reaching over $1 billion in assets under management. While the anniversary recognizes the initiation of the joint venture, the relationship between DLL and MAgNA goes back further. DLL and MAgNA have partnered for over twenty years to collectively grow their agricultural business in the United States

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Stephen V. Lee